Birla Corp's net jumps by 189%

Birla Corporation has reported a 189% growth in its net profit at Rs 17.22 cr during the third quarter of the current fiscal.

Birla Corporation Ltd, the flagship of the MP Birla group, has reported a 189 per cent growth in its net profit at Rs 17.22 crore during the third quarter of the current fiscal.

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The company had recorded a net of Rs 5.95 crore in the corresponding period last year.

Birla Corp's net sales during the period went up by 9.41 per cent to Rs 333.60 crore from the corresponding period's net of Rs 304.90 crore, a company statement said.

The statement also quoted the company's chairman Rajendra Lodha as saying that during the year Birla Corp earned the distinction of having the largest cement production capacity of 1.6 million tonne at a single location with the commissioning of a second plant at its Durgapur facility in West Bengal.

The company now has seven plants with a total production capacity of six million tonne.

A new 27 MW thermal power plant was also commissioned at Birla Corp's Satna plant in Rajasthan close on the heels of commissioning of a similar capacity plant at Chanderia, also in Rajasthan.

These two power plants had greatly helped the company to reduce its power bill.